The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1887-05-11
CHARTER
OF THE
RAPIDES COMPRESS Comply

l
OF THE
RAPIDES COMPRESS COMPLY
STATE OF LOUISIANA,
PARISH OF RApIDEs.
DE II KNOWN THAT ON THIS THE
IL eighteenth day of April, Ammo Domi-
III eighteen hundred and eighty -seven, be-
fore me, George o. Watts, Clerk and ex-
othcio Notary Public, in and for the Par
ish aud State aforesaid, duly commission
ca aud qualified according to law, and in
the presence of the undersigned compe-
tent witnesses, personally came and ap-
peared Jnlins Levin, George w. Bolton,
Robert W. Bringhurst, Albert Pettengill,
Nonle l.. McGinnis and Louis V. Marye.
residents Of this Parish and State, who
severatty and Jointly declared that avail
ing themselves of the provisions of the
laws OF the State of Louisiana relative to
the organization of corporations, thew
have formed and do by these presents
form and organize themselves into a cor
poration and body polite in law for the
purposes and under the following stipula-
tlohs, agreements and articles to-wit:-
ARTICLE l. The name and title of this
corporation shall be "The Rapides Com
press Company" and by that name it
snail have succession and corporate exis-
tence tor and during the term of ninety
nine years from date hereof, unless sooner
dissolved, in the manner hereinafter mon
TONED. The legal domicil of thiscorpora-
ton shall be the City of Alexandra. in
the Parish of Rapides, State of Louisiana.
1t shall have power and authority to pur-
chase and convey both real and personal
property, and shall have corporate seal.
such as may be agreed upon by the Board
Of Directors.
ART. 2: The objects and purposes Of this
corporation are hereby declared to he the
COMPRISING of cotton for domestic and
iorei ggn shipment, and the weighing and
handling Of cotton.
ART. 3. The capital stock of this corpo-
ration is hereby fixed at thirty thousand
dollars, to he divided into shares Of twen-
ty-hye dollars each, ten per cent of which
shall be paid at the time the subscription
is made, and the balance to be paid in in
stallments of ten per cent at such times as
the Board or Directors shall determine -
provided, however, that thirty days no.
tlce he published by one insertion in one
OF the city papers prior to the day of pay
ment; and should any stakeholder fail to
pay any installment as the same may be
called for, the Board of Directors shall
have the right to declare his stock, to.
gether with all payments made thereon,
forfeited to and for the benefit of this cor
poration. The stock of this corporation
may be increased to fifty thousand dollars
BY a majority vote of the stockholders,
ana thls- corporation may begin opera
tlons when fifteen thousand dollars shall
have been subscribed.
ARIA. The corporate powers of this
corporation shall be vested iu Board of
SIX Directors, composed of the stockhol-
ders OF this corporation to he elected an.
nually, four of whom shall form quo
rum, and their acts shall be valid corpo-
rate acts, and no stakeholder shall be-
come Director unless he holds In his own
right four shares Of the capital stock
The first Board of Directors under this
charter shall be:-Julius Levin, George
W. Bolton, Robert w. Bringhurst, Albert
Pettengill, Noble L. McGinnis and Louis
V. Marye, and they shall elect from
among their number President, and
vice-Prcsident to act in the absence of the
President, and shall appoint such other
officers and employees as they may deem
proper to serve during their pleasure
The aforesaid Board shall continue to act
until the first annual election of Directors,
which shall take place on the first Mon.
day in May, 1883. The present Board of
Directors shall at that time give notice in
one of the City papers of said election by
two publications, and at the said election
OF Directors each and every share of stock
shall be entitled to one vote, and eyery
stakeholder shall be entitled to vote in
person or by proxy, and all elections pro.
vided for by this charter shall be by bal
lot. Tbs said Board of Directors shall
make such bylaws and rules and regula-
tious as they may think proper, and in
the event of any vacancy in the said
Board from death or otherwise, the Dlrec-
tors shall elect one of the stockholders to
fill the vacancy.
ART. 5. The President of this corpora
tiOn shall be the proper officer upon whom
citation shall be served, or in his absence.
upon the Vicc-President.
ART. 8. This corporation shall have the
power and authority to contract, sue and
be sued under its corporate name, and to
mortgage and hypothecate under it's cor
porate name property both real and per
sonal, and shall have and enjoy all the
incident to corporations of its
nature in, this State.
ART. Z. No stakeholder shall be held
liable for the faults, obligations or con-
tracts of this corporation for any greater
amount than the unpaid balance due to
the corporation on his stock.
ART. 8. This corporation may be dis
solved by twO-thirds vote of its stock |
holders as represented by the capital
stock, and it shall than be liquidated by
three commissioners to be chosen from
tho said stockholders at special election
for that purpose, and they shall hold Of
fee until the affairs of said CORPORATION
shall be liquidated.
JULIUS LEVIN,
N. l.. MCGINNIS,
ALBERT PETTENGILL,
r. w. BRlNGHURST,
l.. v. MARYE,
G. w. BOLTON.
/: e 1e MILLER, Witnesses.
(~~) Thus done, read and signed
( L. s. before1ne this 18th day of April,
I ~ 1887, In the presence of the two
subscribing witnesses.
. GEORGE O. WATTS, Z.
Clerk 18th Judicial District Court, RAN
ides Parish, La.
Nay 5, 1887-3Od.